As I’m putting together the upcoming Industrial Internet of Things column for October, it’s hard to deny the return-on-investment (ROI) numbers being released at industry conferences and user conferences. At a recent ARC Advisory conference in India, three new applications — from Mitsubishi and Schaeffler — demonstrated the robust ROI for three different industry examples: Continuous Process, hybrid and a discrete production line.
Here’s a quick rundown of these projects and below is a link to the presentation at ARC in India:
These applications include a sensing system, a device and entire production line being connected to a cloud-based system. The waste water case study presented details the return on investment (ROI) and overall costs for a new condition monitoring systems for gearboxes on a line of pumps at this Germany utility.
The results are staggering. Four months after installation of the CMS, the company identified a €3,300 savings for gearwheel defects that were detected. Also, the process avoided a gearbox overhaul and loss of service.
In the paper mill CMS application, the Mitsubishi HiTec Paper wanted to add 26 smartcheck vibration sensors to better monitor a cooling system for its four-story coated thermo-sensitive paper system. After installing the vibration sensor at cost of €25,500, the paper manufacturer reported a €10,500 ROI due to the avoidance of three failures, service-loss and machine damage.